Australian minnow SAPEX defers IPO to early 2007

摘要

Sydney-South Australia-based oil minnow SAPEX has deferred a planned initial public offering to early 2007 due to "minor technical issues that have been raised by regulatory authorities" and which are being resolved, the company said in a statement November 10. "The [company's] directors considered that because of the imposed delay arising from the resolution of such issues during the imminent approach to the Christmas-New Year season, the continuation of the offering in a significantly shortened marketing and offer period, would not be in the best interests of the current and future shareholders of the company," SAPEX said.